HO CHI MINH CITY, Vietnam, April 24, 2025 /PRNewswire/ — On April 18th, 2025, in Vietnam, TTC AgriS (HOSE: SBT) – Leading high-tech agricultural enterprise in the region, successfully signed an agreement with Sungai Budi Group to implement the cooperation commitments outlined in the Memorandum of Understanding (MOU) signed in March 2025 in Indonesia. This initiative, witnessed by Vietnamese Party General Secretary – H.E. To Lam and senior officials from both Vietnam and Indonesia, aims to enhance scientific and technological application and foster the development of agricultural value chains in both countries.
Ms. Dang Huynh Uc My – Chairlady of TTC AgriS and Mr. Oey Alfred – CEO of Sungai Budi Group – formalized the implementation of the cooperation agreements under the MOU signed in Jakarta, Indonesia in March 2025.
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The signing ceremony was held in the presence of H.E. Rachmat Pambudy – Minister of National Development Planning of the Republic of Indonesia; H.E. Denny Abdi – Indonesia Ambassador to Vietnam; H.E. Agustaviano Sofjan – Consul General of Indonesia in Ho Chi Minh City; H.E. Tran Van Chien – Vice Chairman of the People’s Committee of Tây Ninh Province; H.E. Le Viet Binh – Deputy Chief of Office, Chief Representative of the Southern Region – Ministry of Agriculture and Rural Development; H.E. Le Truong Duy – Director of the Fourth Industrial Revolution Center in Ho Chi Minh City; and senior leaders from both companies.
Strengthening bilateral cooperation, shaping the future of ASEAN agriculture
Under the newly signed agreements, TTC AgriS and Sungai Budi Group will jointly establish a Research & Development Center for sustainable agriculture and launch a 2,000-hectare model sugarcane farm (demo farm) in Indonesia. The project will leverage advanced farming technologies to enhance yield, improve raw material quality, and accelerate green transformation across the agricultural value chain.
In the coconut sector, both parties discussed plans for a 2025 joint venture that aims to scale operations up to 300 million liters/kilograms over two phases. The initiative will build a production and commercial platform for coconut-derived products, with an initial capacity of 120 million liters/kilograms for both the Indonesian and international markets. Additionally, the partners plan to develop 20,000 hectares of organic coconut plantations in close collaboration with local farmers.
The Signing Ceremony was witnessed by Rachmat Pambudy – Minister of National Development Planning of the Republic of Indonesia – and senior leaders of both countries.
In her remarks, Ms. Dang Huynh Uc My, Chairlady of TTC AgriS – emphasized: “With over half a century of continuous innovation, TTC AgriS has evolved from a domestic sugar company into a comprehensive international agricultural solutions provider. We believe that robust investments in R&D and technology, along with building a circular value chain, are fundamental not only to enhancing our competitiveness but also to affirming our commitment to global ESG standards.”
Mr. Oey Alfred – CEO of Sungai Budi Group – echoed the significance of this strategic partnership, highlighting the synergy of vision and strengths between two leading agricultural groups.
Representatives from the Indonesian Embassy, Consulate General, and Tay Ninh Province praised the potential of this cooperation and affirmed their full support, pledging close collaboration with TTC AgriS and Sungai Budi Group.
Firsthand experience of Vietnam’s high-tech circular agriculture model
Following the signing ceremony, the Indonesian delegation visited TTC AgriS’s high-tech agricultural complexes in Tay Ninh and BenTre, showcasing the company’s innovation capacity, optimized operations, and scalable sustainable solutions.
At the Ninh Dien demo farm in Tay Ninh, delegates observed precision agriculture in action – from smart irrigation systems and crop-monitoring drones to IoT sensors that optimize resource use and improve crop quality. This technological platform was developed by TTC Agricultural Research Institute (ARI), TTC AgriS’s core R&D center.
The delegation visited the Ninh Dien demo farm in Tay Ninh
The next highlight was TTC Tay Ninh Sugar Factory, where the circular economy model is implemented on a large scale: bagasse is converted into electricity, molasses into ethanol, and filter mud into organic fertilizer. This closed-loop model, encompassing R&D, cultivation, and processing, was highly praised by Indonesian partners, particularly Sungai Budi leadership, for its sustainability, investment efficiency, and scalability.
The delegation visited the Ninh Dien demo farm in Tay Ninh
The delegation then traveled to Ben Tre, where TTC AgriS and Betrimex are building a comprehensive coconut value chain — from organic plantations to international-standard deep processing plants. Notably, the organic coconut farming model integrates traceability (via QR codes) and aligns with the principles of a circular economy, leaving a strong impression as a testament to efforts to enhance the value of Vietnamese agricultural products through sustainable development.
TTC AgriS and Betrimex proudly own the largest organic coconut plantation in Vietnam. Beyond traditional products like desiccated coconut and virgin coconut oil, the companies showcased a growing portfolio of high-value coconut products, including convenient canned coconut water and coconut milk, meeting international demand for direct consumption, mixing, and cooking.
Sungai Budi’s senior leadership team experienced the coconut value chain firsthand
Indonesia – a strategic market in TTC AgriS’s regional vision
As the world’s fourth most populous country and Southeast Asia’s largest economy, Indonesia has always been central to TTC AgriS’s regional strategy. Fulfilling these strategic commitments not only expands TTC AgriS’s international footprint but also deepens the Vietnam–Indonesia partnership, contributing to the goal of raising bilateral trade to USD 18 billion by 2028.
Through these efforts, TTC AgriS affirms its pioneering role in building a resilient and adaptable agricultural supply chain, capable of weathering global economic shifts while reinforcing ASEAN’s central role in the international agri-value chain.
TTC AgriS (Ticker: SBT) – Business Profile FY 2023-2024
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